VSEDC envisions South Los Angeles as a vibrant and interconnected community. Home ownership is a key aspect of this vision as it creates stability and the foundation for relationship-building among residents. Home ownership is also a critical element of wealth creation and self-sufficiency. As such, access to affordable housing is an important community need that VSEDC has met through various initiatives.

Most recently, the Los Angeles Neighborhood Services (LANHS) invited VSEDC to participate in the second phase of the Department of Housing and Urban Development Neighborhood Stabilization Program (NSP2). In this program, VSEDC will assist in the redevelopment of abandoned and foreclosed homes, and multi-family units in low-income communities. The program will impact more than 700 units for affordable housing and homeownership for first-time home buyers over a 3- year period.

Central Avenue Villas is one of two housing facilities operated by VSEDC as a strategy to reduce the high cost of rental housing through affordable rental units. CAV provides 20 units of 2 and 3 bedroom apartments.

Project Name:

Central Avenue Villas

Project Location:

South Los Angeles

Year Completed:

1992

Total Development Cost:

$2,990,738

Funding Sources:

Rental Housing Construction Program

$796,400

City of Los Angeles Community Development Department

$1,180,000

California Equity Fund

$1,014,338

Florence Avenue Villas

Florence Avenue Villas is the second of two housing facilities operated by VSEDC as a strategy go reduce the high cost of rental housing through affordable rental units. FAV provides 20 units of 2 and 3 bedroom apartments.